Kiwi steady ahead of new market signals

THE New Zealand dollar is little changed as investors prepare for minutes to the latest US Federal Reserve policy review and Australian employment figures.

The kiwi traded at 85.93 US cents at 5pm in Wellington from 85.81 cents at 8am and 85.97 cents on Friday in New York.

The trade-weighted index rose to 80.31 from 80.03 at the New York close.

Traders are waiting for the release of minutes to March's Federal Open Market Committee meeting on Wednesday in Washington to get a clearer steer on when the US central bank might start raising interest rates.

Chair Janet Yellen surprised investors when she indicated the Fed would start hiking rates six months after the end of quantitative easing, although has softened the tone on those comments.

"People will be watching to see whether the FOMC minutes remind us that slightly hawkish shift back in the March meeting is for real or not," said Imre Speizer, market strategist at Westpac Banking Corp in Auckland.

"It's all about the US dollar at the moment and will continue to be this week."

Investors are also waiting for Australian employment figures, which are expected to show the nation added 5,000 jobs last month, according to a Reuters poll of economists.

The kiwi was little changed at 92.63 Australian cents from 92.51 cents on Friday in New York.

The kiwi fell to 88.57 yen from 88.79 yen on Friday and was unchanged at 62.73 euro cents.